Affiliated Managers (AMG)2025-02-06 11:56Financial Performance - AMG reported EPS of 6.53 for Q4 2024, with full-year EPS of 21.36[1]. - Economic earnings per share grew by 10% year-over-year, reflecting AMG's strategic evolution and disciplined capital allocation[2]. - The company reported net income of 196.2 million in Q4 2023[12]. - Consolidated revenue for the year ended December 31, 2023, was 2,040.9 million in 2024[14]. - Net income attributable to controlling interest decreased to 511.6 million in 2024, reflecting a decline of approximately 25%[14]. - Earnings per share (diluted) for 2023 was 15.13 in 2024, indicating a decrease of about 13.1%[14]. - Adjusted EBITDA for the full year was 935.7 million in the previous year[5]. - Adjusted EBITDA (controlling interest) rose to 973.1 million in 2024, showing a decrease of approximately 3.8%[15]. - Economic net income (controlling interest) was 701.6 million in 2024, a decline of about 2.4%[15]. Assets and Liabilities - AMG's total assets under management (AUM) increased to approximately 672.7 billion at the end of 2023[7]. - Total assets decreased from 8,830.9 million in 2024, a reduction of approximately 2.5%[16]. - Cash and cash equivalents increased to 813.6 million in 2023, representing a growth of about 16.8%[16]. - Total liabilities increased from 4,182.2 million in 2024, an increase of about 2.1%[16]. Shareholder Actions - The company repurchased approximately 0.01 per share, payable on March 4, 2025[6]. - Average shares outstanding (diluted) decreased from 42.2 million in 2023 to 36.1 million in 2024, a reduction of approximately 14.5%[14]. Market Activity - AMG's private markets Affiliates raised approximately (13.9) billion, with Q4 2024 net client cash flows at $(8.3) billion[5]. Forward-Looking Statements - AMG's forward-looking statements include expectations regarding business performance, financial results, and liquidity[25]. - The company anticipates potential changes in investment performance and growth rates of its Affiliates[25]. - AMG emphasizes the importance of competition for acquisitions in the investment management sector[25]. - The company highlights risks related to the availability of equity and debt financing affecting its operations[25]. - AMG's earnings contributions are influenced by the mix of Affiliate performances[25]. - The company does not undertake any obligation to publicly update forward-looking statements except as required by law[25]. - AMG encourages investors to regularly consult its Investor Relations section for important financial information[26].